iCharts Discussions

[eagleseyes]

Hi friends ,
From now on this would be a new forum dedicated to renuka traders as long as i am trading in renuka.If I stop trading in that stock , its my humble request that someone else should continue it.Ok so lets start today's discussion.

Its was not a very nice day for renuka nor for me as i lost some money.Its ok happens sometimes.lets move forwrd and anslyse the chart

1. there was nothign great in the chart, exceot that u could have gone short on the break on the close of the first bar with SL of open.
2. It would have been a great trade and with mere 2 lots would have earned 1 lac today.I did not do that trade and this is what frustates me.
3. On the break of the high of the 6th bar we could have entered long with a SL of close of that bar..but since it was a very big red candle a SL of midpoint of the bar would have been appropriate.
4. 9th bar was DOJI , so high and low become important as the previous ( most recent ) trend was up.Also a ulta hammer on the next bar denoted a short trade could be entered with the high of the 10th bar as SL .Following bars could be used for profit taking
5.16 bar was a hammer , buy on break of high and SL of low of that bar.following are profit taking
6.20th and 21st bar again indictied of shorting ...easily could have made 2lac today.. but lost 20k ...
REASON of the long was :- EMOTIONAL TRADING.
tip for 2maro .. there is no point in going for positional short in renuka now.It might open -ve as today it was down 8%.Keep an eye on the first 15 min candle..use the open and close of that bar to enter a position.Also keep triveni engg next to renuka, if that goes up chances are this goes up too.

[shrii]

eagleeyes, thanks for the nice post. keep posting regularly like this.

[easwaran1947]

my dear Eagleseyes,
Namaste
it is really amazing and at the same time
quite bit sad for you have lost.
but most important line i could see from your writings
that if one is not involved EMOTIONALLY
to quote from a book
"stock—Do not anticipate
what will happen next—Always wait for the market to confirm
your trade.The successful speculator must formulate his plan in advance of a
stock’s movement. Because the market is driven not by logic but by emotion,
it is most often unpredictable and goes against logic."
yes my dear
you could have turned the tables
and made a huge gain
in a single day on a single stock
it was there , any way you
if you could have gone according to the TA
price was telling all the time the trend was on the other sideup
i do not know much about candles
in fact after your writing
i am interested in knowing
the candle, let me see
if i can catch you up

i wait for the first thirty to forty five min of the trading
to feel the trend,most of these days
the trend is exhibited by the market
in spite "nifty' gaining, this one stock.
went against the market
up.
thanks friend
do keep writing about any stock that you feel
and study deeply, it is really nice to see you
doing it - and sharing it
keep it eagleseyes
may you climb higher and higher
love
easwaran
bangalroe

[easwaran1947]

Hi
greetings
what software u r using to chart , i think the time frame for those chart which is exhibited are for 15 minutes ,
can u kindly give me link for the software and
real time vendor for the rt prices
keep it buddy
you are on the glorious path
hope u will send me the information
thanks
cheers
easwaran
bangalroe

[eagleseyes]

Hi friends.
I could not post for the last couple of days as my net was down.

lets discuss renuka for 9th june.

1. candle 1..lets for that for the moment as it was a gap doen opening.
2.2nd was red too , same for others till candle 7th as it was a doji.. so its high and low become important.we enter on candle 9th as doji high is broken keeping a SL of doji low.This doji was important ONLY because previous trend was down.KEEP THAT IN MIND PLEASE.
3.the rest were all profit taking bars, in a market like ours and the number of doji's formed we must keep trailing SL in the form of low of previous bar.
4.22nd and 23rd were fit for a short , on break of 22nd bar low.BUt i did not trade that.so not mentioning.
IN today's market the only thing that meant was ..hold to ur profits... that all for today .

PS :- Easwar sir the software that i use for charts is sharekhan's tiger trade.The time frame used is 13 minutes , but if i take the chart from icharts i set it to 15 minute.ALso the notes that u write are very very inspiring.Thanks a lot for that.

[saurabhkurichh]

hi friends..fantastic day for renuka today..HUGEEEEEEEEEEE short covering.I m not updating the charts as my home internet is not working.m sitting in a cafe and writing this..

See u all later friends

[easwaran1947]